WPP to dilute Kantar stake as group revenue falls

Beleaguered by recent client losses since the departure of its former chief executive Sir Martin Sorrell, WPP has at last conceded that it should dispose of a controlling interest in its lack-lustre Kantar research operations.

Reporting an overall revenue decline of 0.8% in the latest quarter to 30 September, the newly appointed chief executive Mark Read said the board had approved a formal process to review the strategic options that will maximise share owner value.

WPP’s shares had lost 17% of their value within half an hour of the market opening after the announcement, sinking to their lowest point in five years. For a brief period the shares were down by 22%.

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